The clock is ticking for taxpayers. December 15, 2024, is the advance tax payment deadline for the financial year 2024-25. Salaried employees, freelancers, and businesses are expected to fulfill their obligations by this date to stay compliant with income tax regulations. But with the deadline landing on a Sunday, many are asking: what happens if … Read more
ITR filing 2024: The deadline set by the Income Tax department for filing income tax returns for FY 2023-24 was July 31, 2024. Contrary to the requests of many taxpayers, the department decided not to extend the deadline. If you are a salaried or business taxpayer and missed the initial deadline, you still have the … Read more
ITR filing: As the deadline for filing Income Tax returns (ITR) draws near, individuals should be aware that failing to meet the deadline can result in serious consequences. The deadline for submitting income tax returns for the financial year 2023-2024 (Assessment Year 2024-2025) is July 31, 2024. If individuals miss the July 31 deadline, they … Read more
Union Budget 2024: Finance Minister Nirmala Sitharaman on Tuesday tabled the Union Budget 2024-25 in the Parliament on Tuesday, wherein she introduced some changes to the direct taxes. FM Sitharaman made notable adjustments in the Income Tax Regulations to benefit the middle-class sector. One significant change is the 50% increase in the Standard Deduction, now … Read more
Union Budget 2024: Finance Nirmala Sitharaman, in a major relief to the taxpayers, tweaked the tax slabs for the New Tax Regime. The FM also announced an increase in the standard deduction to Rs 75,000 from the previous Rs 50,000, which can be availed by taxpayers opting for the New Tax Regime. The Old Tax … Read more